Baku, Azerbaijan, Feb. 21
By Nigar Guliyeva - Trend:
A Fund for Defense Industrial Complex Development was established under the Uzbek State Committee for the Defense Industry in accordance with the decree of Cabinet of Ministers.
The fund's resources will be formed from the state budget of Uzbekistan, as well as commissions paid to the State Committee for Defense Industry.
Particularly, through the deduction of 1 percent of the cost of import contracts on supply of weapons and military equipment and on the sale of military and dual-use products.
In addition, the Fund will receive 30 percent of the value of the military hardware assets sold on foreign markets and the full cost of licenses issued by the committee.
The Fund's resources will be used to finance programs and projects in the defense-industrial complex, activities to develop and modernize weapons, military equipment and military-technical equipment.